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Risky Business Seminar in New York April 29, 2016

1/27/2016

 
This comprehensive seminar —for new attorneys, attorneys transitioning to entertainment law, and filmmakers— explores how independent films are financed and distributed.
Topics include financing via pre-sales, debt and equity investors, negotiating tactics, typical contract terms, cross-collateralization, creative accounting, and ethical concerns. Particular attention will be paid to how producers and filmmakers can protect themselves by: investigating distributors; watering down warranties; adding contract provisions covering performance, termination, and alternative dispute resolution; getting errors and omissions (E&O) insurance; and using lab access letters and schedules of minimums. Other topics will include: criteria for selecting a distributor; new media distribution; which contract terms are negotiable; compliance with state and federal laws regarding investors; retaining an attorney, producer reps and publicists; and confirming awards and enforcing judgments. Extensive handouts will be distributed via email in advance of the program, including a distribution contract, articles, and a self-defense checklist. Finally, the lunch hour will provide a great opportunity for networking.

Mark Litwak is a veteran entertainment attorney with offices in Beverly Hills, California. His practice includes work in the areas of copyright, trademark, contract, multimedia law, intellectual property, and book publishing. Litwak is an adjunct professor at USC Law School, and functions as a Producer’s Rep, assisting filmmakers in the financing, marketing and distribution of their films. Litwak is the author of many books including: Reel Power, Dealmaking in the Film and Television Industry (winner of the 1995 Krazna-Kranz Moving Image Book Award), Contracts for the Film and Television Industry, Litwak’s Multimedia Producer’s Handbook, and his latest book, Risky Business, Financing and Distributing Independent Film.
*CLE with VLA: Seven (7) New York CLE credits awarded for attorneys: 4 Areas of Professional Practice credits, 2 Skills credits, and 1 Ethics credit. This program qualifies as “transitional” for newly admitted attorneys.
When:
Friday, April 29, 2016, 9:30 AM – 5 PM – CLE*
Space is limited! Please register early.

Where:  Manhattan 

​More Info and to register

THE DIFFERENCE BETWEEN MARKETS & FESTIVALS

1/22/2016

 

Markets and festivals are not the same. Some filmmakers may find the difference confusing because the Berlin and Cannes Film Festivals operate concurrently with an adjoining film market. Sundance is a festival but an informal market of sorts has grown up around the festival with distributors bidding to acquire rights to some films.
 
 Markets are generally only open to the trade, and the fee to attend limits attendance to industry professionals. A member of the public usually cannot buy a ticket to see a film at a market or participate in it. At markets, films are screened for buyers. Actually, it would be more accurate to call these buyers "licensees" since they usually do not buy ownership of a film, but license distribution rights for a term of years in their country. A buyer might be a German broadcaster interested in acquiring films to distribute on his cable television service. Another buyer might be a theatre-chain owner who wants to exhibit films in Turkey. Some buyers want all media rights (including theatrical, television, digital, and home video) in a territory, and may sub-license some of those rights to other distributors.
 
Markets are an opportunity for buyers worldwide to interact with those who license film rights. These licensors are usually sales agents acting on behalf of producers. In the course of a market, a buyer can talk to many sales agents and view multiple films. Deals may be signed during the market or afterwards. The market is also an opportunity for sellers and buyers to socialize, and to build relationships with people with whom they often transact business by email or phone.
 
Festivals, on the other hand, are open to the public. Anyone can buy a ticket to a screening, although at the most popular festivals, there may not be enough tickets to go around. Festivals can provide a test of a film's audience appeal. A festival screening may be the first opportunity for the filmmaker to see how typical moviegoers react to the film.   Of course, festival-goers tend to be better-educated and wealthier than the average moviegoer. Nevertheless, a festival screening does provide some good feedback.
 
Festivals serve several important functions. First, they expose films to distributors. Acceptance at a top festival will induce many acquisition executives to take a look at a film, either at the festival or by asking to screen   the film   outside the festival. Winning a top festival may make a film highly desirable in the eyes of distributors, and may lead to a bidding war.

 
Festivals can also generate publicity for a film and draw the public's attention to it. Thus, once distribution has been secured, the distributor may want to screen the film in festivals to build awareness and perhaps generate good reviews. If the timing of the festival is near the release date for the film, participation in the festival may help publicize the picture.  Alternatively, if the film is not going to be released for another six months, publicity now may not be helpful, and can be harmful. That is because when the film is released, the prior coverage will have been forgotten by the public, and the news media will consider the film old news. The media may not review the film again or write articles about it.​

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    Disclaimer: The information in this blog post (“post”) is provided for general informational purposes only and may not reflect the current law in your jurisdiction. No information contained in this post should be construed as legal advice from the individual author, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through, this Post without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country or other appropriate licensing jurisdiction.
    For older posts, please visit The Litwak Blog.
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